Engaging and Retaining Key Talent: The Role of Rewards
|
|
- Nathan Hawkins
- 6 years ago
- Views:
Transcription
1 Engaging and Retaining Key Talent: The Role of Rewards Proudly sponsored by Careerminds May 14, 2013 Tom McMullen and Mark Royal
2 Hay Group Presenters Tom McMullen Hay Group (Chicago) Proudly sponsored by The leader in virtual outplacement services. Mark Royal Hay Group (Chicago)
3 About Hay Group Hay Group has consulted with 9,000 clients worldwide in a wide variety of areas, including: Organizational effectiveness Managerial and executive assessment Compensation and benefits Performance management Executive remuneration and corporate governance Employee and customer attitude research 88 Offices in 47 countries 2600 Employees worldwide 9000 International clients 3
4 Agenda 1 Why this topic? 2 Research initiative 3 Findings and Discussion 4 Recommendations 4
5 01 Why this topic?
6 Why this topic? Economy starting to recover Unemployment down to 7.5%; 3.9% for college graduates An increasing number of Americans are quitting their jobs 20% of employees intend to quit in the next 2 years Number of job changes are increasing 6
7 Scary talent shortages coming U.S. Talent Shortages Categories Engineers Doctors Scientists Health Technicians Nurses Information Technology Teachers Shortfall 50M 250M 55M 200M 100M 200M 200M 400M 340M 1MM 500M 1MM 500M 1MM Sources: Bureau of Labor Statistics & Professional Associations 7
8 Serious skills shortfall by sector Aerospace & Defense Life Sciences & Med. Devices Energy & Resources Industrial Products Consumer Products Other 0% 10% 20% 30% 40% 50% 60% 70% Source: Manufacturing Industry Survey by Deloitte, Oracle, & Manufacturing Institute 8
9 Is retaining key employees a significant challenge? Turnover of key employes is very costly for our organization Employee retention of key talent is a major concern of senior management right now I expect turnover of key talent to increase substantially when the economy improves Retention of key talent has become more difficult in recent months Confident in my organization's ability to retain key talent as the economy improves I expect a substantial number of key employees to search for a better job as 81% 68% 60% 58% 57% 54% 0% 20% 40% 60% 80% 100% % Agree & Strongly Agree 9
10 Key predictors of employee retention Employees planning to stay for >2 years Employees planning to leave within 2 years Confidence in ability to achieve career objectives 64% 31% 33% Trust and confidence in company senior management 60% 35% 25% Opportunities for learning and development 71% 45% 25% Benefit that meet employee needs 68% 45% 23% Company demonstrates care & concern for employees 62% 39% 23% Company is effectively managed and run well 73% 51% 23% Adequately authority to do job 73% 51% 23% Employees paid fairly for the work they do 53% 31% 22% Supervisory coaching for development 67% 45% 22% Support for employee creativity and innovation 70% 48% 22% Cross-work unit collaboration and support 63% 41% 22% Direction and goals are the right ones for the company 73% 51% 22% Source: Hay Group Employee Opinion Norms (2013) Gap 10
11 Easy for key talent to leave Key talent always scarce especially during economic recovery You can t hide key talent; Linked-in and social media promote their capabilities and accomplishments Top talent can compare their deal with everyone else s on salary.com, vault.com. and O net.gov, etc. Your company reputation is always on the line; a disgruntled employee has an audience of millions Whole Foods employee s rant goes viral Workplace experts weigh in on a commentary by departing Goldman Sachs executive Greg Smith Feds: Trashing an Employer on Facebook is Protected Speech 11
12 Cost of turnover estimates Job Type/Category Entry Level Hourly, Non Skilled (e.g. Fast Food Worker) Turnover cost ranges (% of annual wages) 30% - 50% Service/Production Workers - Hourly (e.g. Courier) 40% - 70% Skilled Hourly (e.g. Machinist) 75% - 100% Clerical/Administrative (e.g. Scheduler) 50% - 80% Professional (e.g. Sales Representative, Nurse, Accountant) 75% - 125% Technical (e.g. Computer Technician) 100% - 150% Engineers (e.g. Chemical Engineer) 200% - 300% Specialists (e.g. Computer Software Designer) 200% - 400% Supervisors/Team Leaders (e.g. Section Supervisor) 100% - 150% Middle Managers (e.g. Department Manager) 125% - 200% * Source: ROI Institute 12
13 Turnover cost components Exit cost of previous employee Lost productivity Temporary worker cost Recruiting cost On-boarding costs Training costs Supervisor s/coworkers time managing turnover Loss of expertise/knowledge Quality problems Customer dissatisfaction 13
14 A look at the cost of turnover 14
15 Engaging and enabling employees to drive performance Work environments have to turn motivation into productivity Strategic intent Engagement Employee effectiveness Business results Enablement 15
16 The business case for engaging and enabling employees Employee performance Employee retention Customer satisfaction Financial success High engagement only High engagement + high enablement Increase in employees above performance expectations Reduction in turnover rates Customer satisfaction rates Revenue growth 10% -40% 71% x2.5 50% -54% 89% x4.5 Based on linkage case studies using Hay Group s global normative database 16
17 02 Research Initiative
18 Research objectives Our objectives were to find answer to these questions: Is the economic recovery creating significant challenges in retaining key talent? What are organizations doing to retain key employees How effective are these effort? Are counter-offers a viable strategy for retaining key talent? 18
19 Research scope Perspective of reward professionals Organizations from diverse industries and sizes Focus on managerial and professional population Primarily respondents represent N.A. organizations 19
20 Survey methodology Survey of 682 Reward Professionals globally Method of analysis Descriptive analysis (e.g., means and frequencies) Quantitative and qualitative analysis Organization size and sector of the economy considered 20
21 Representative survey participants 21
22 Participant demographics Number of employees 15.7% 19.1% 10.5% 9.5% 45.2% 0 to 999 1,000 to 9,999 10,000 to 19,999 20,000 to 39,999 40,000 or more 36.7% Economic Sector 8.2% 9.9% 45.3% Public Sector Publicly Traded Privately Traded Non-Profit 22
23 Participant demographics (continued) Industry Affiliation 29.6% 5.5% 7.5% 13.6% 16.6% 8.8% 18.3% Finance, Ins & Real Estate Manufacturing Healthcare & Social Svcs Utilities, Oil & Gas Consulting, Prof & Tech Svcs Information Other 23
24 03 Findings and Discussion
25 Engagement: The impact of financial rewards % High Base salary level 41% Base salary increase 42% Benefits and perquisites programs 48% Short-term incentives/bonus programs 54% Long-term incentives/bonus programs 32% 0% 10% 20% 30% 40% 50% 60% % agree high impact on engagement 25
26 Engagement: The impact of non-financial rewards % High The nature of the job/quality of work 69% Work environment/climate 61% Career development opportunities 59% Work-life balance 55% 0% 10% 20% 30% 40% 50% 60% 70% % agree high impact on engagement 26
27 Identifying key talent Key talent defined as top performers, high potentials, empl.s in critical jobs Our identification of key talent goes below the executive level We have actually identified key talent We have a clear definition of key talent Retention efforts focuses primarily on key talent versus all employee base 79% 75% 66% 57% 55% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% % Agree and Strongly Agree 27
28 Most likely reasons why key talent quits Opportunity to earn more elsewhere Lack of promotional opportunities Pay levels viewed as unfair vs outside org Dissatisfaction with job responsibilities Pay levels perceived as unfair vs. empl Workloads are too heavy Work-life balance issues Conflicts with immediate supervisor Inadequate use of employee's skills Lack or training/developmen oppts Lack of job empowerment/influence 77% 67% 58% 56% 53% 52% 50% 49% 47% 46% 45% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% Percent who responded to some extent, to a great extent, and to a very great extent. 28
29 Methods most often used to retain key talent Identified key employees who are essential to the business Discussed future opportunities within the organization Pay employees above the labor market Created a succession plan to replace individuals Developed employees who may replace key employees who leave Provided tuition reimbursement/other educational opportunities Allowed for flexible hours or telecommunting Provided meaningful pay communications 85% 80% 75% 74% 73% 73% 68% 65% % Effective or Very Effective 75% 69% 73% 63% 64% 53% 67% 59% 0% 20% 40% 60% 80% 100% % Use these methods 29
30 Counter-offers 1. Only 14% of organizations have a counter-offer policy; 4% had a documented policy 2. For those with a policy, it applied only to key employees (10%) or at the request of a manager (34%) 3. Respondents said counter-offers seldom create a problem (33%) or have created some problems (25%) 4. HR/compensation jointly decides counter-offer cases with management (57%) or provides input (26%) 5. Consistent with previous research (2005) 30
31 Employee involvement in reward programs Design 4% 4% 16% 40% 40% Implementation 17% 42% 37% Evaluation 3% 18% 39% 40% 0% 20% 40% 60% 80% 100% % Always % Often % Seldom % Never 31
32 Manager involvement in reward programs Design 8% 29% 40% 23% Implementation 12% 31% 35% 22% Evaluation 6% 27% 37% 39% 0% 20% 40% 60% 80% 100% % Always % Often % Seldom % Never 32
33 Reward communications Peer Group Most Admired We regularly reinforce our reward philosophy in communications with employees Employees understand & appreciate that rewards consist of tangibles and intangibles % Agree 33
34 04 Recommendations
35 Our top seven list 1. Make a business case for engaging and retaining employees 2. Get to a total rewards mindset 3. Clarify key talent management program 4. Develop a differentiated reward strategy for key talent 5. Develop a counter-offer strategy 6. Leverage critical jobs 7. Monitor program effectiveness 35
36 Make a business case for engaging and retaining employees Educate management about the correlation between high engagement and hard business metrics Educate management about cost of turnover to the company Continually measure engagement and retention at your company 36
37 Get to a total rewards mindset Educate managers and employees about the total value proposition of working at your company Develop tools for managers so they can effectively reward employees beyond the confines of compensation and benefits Continually communicate the non-financial benefits of working at your company 37
38 Clarify key talent management program Develop clarity around what defines key talent and around the definition of high potential, specifically potential for what? Identify governance structure and roles of corporate, BU and function leadership in key talent management processes Ensure transparency in talent reviews and ensure a substantive role of functions to: Minimize sense of talent ownership by business Improve collaboration and calibration processes Articulate top talent communications strategy Do we communicate status? Why? Why not? Identify the benefit and risks of communication Identify messages, messengers and mediums of communications 38
39 Develop a differentiated reward strategy for key talent Clarify reward strategy for key talent Determine degree of variation, if any, vs. other employee groups Include principles, design and communications Common programs include more aggressive base salary positioning, off-cycle pay increase and restricted stock grants Monitor performance and reward differentials for top talent vs. others to ensure appropriate differentiation Differentials across all cash reward elements Differentials in treatment across non-financial reward programs On a current year and multi-year (i.e., career income) basis 39
40 Develop a counter-offer strategy Develop a counter-offer strategy that consists of clarifying: The types of people/jobs that are eligible for counter-offers The role HR, management and senior management play The information to collect to formulate a counter-offer How to structure and communicate the counter-offer How to respond to other employees who may learn about the counter-offer How to limit the need for making counter-offers in the future Recognize that work climate issues often trigger a search for a new job Nonetheless, many counter-offer and retention strategies focus on pay increases, retention bonuses, and stock options Ensure you have a good understanding of the real issues and take action on them 40
41 Leverage critical jobs Leverage the notion of a critical job or accelerator experiences Clarify purposes, application and process of a critical job Align top talent management with management of critical job post; clarifying eligibility requirement on who can assume a critical job Develop principles around job evaluation lean forward or grandfather situations (e.g., eligibility, decision rights, time windows, communications) 41
42 Monitor program effectiveness Measure program effectiveness Develop criteria for program effectiveness assessment Involve top talent in developing the strategy and evaluation of top talent Common measures include: Velocity of key talent through the pipeline Growing the amount of key talent in the organization Retention rate of top talent Active involvement of CEO and C-suite is a key program enabler 42
43 Questions? Proudly sponsored by The leader in virtual outplacement services. 43
Reward next practices
Reward next practices A Study of Reward Leaders WorldatWork Conference - Philadelphia APRIL 29, 2013 insert client logo Presenters Tom McMullen Hay Group Chicago tom.mcmullen@haygroup.com +1.312.228.1848
More informationEnabling, Engaging, & Rewarding Employees A Study of Most Admired Companies
Enabling, Engaging, & Rewarding Employees A Study of Most Admired Companies Tom McMullen Mexico City (April 6, 2011) Fortune survey of World s Most Admired Companies What is it? Fortune has combined the
More informationRewarding Key Talent
REWARD STRATEGY AND PRACTICE Rewarding Key Talent Tom McMullen and Mel Stark * While competition for key talent increases, Hay Group employee opinion norms indicate that 20% of employees plan to seek a
More information2018 SPHR. Exam Content Outline CERTIFICATIONS IN HUMAN RESOURCES. SPHR Senior Professional in Human Resources
CERTIFICATIONS IN HUMAN RESOURCES SPHR Senior Professional in Human Resources 2018 SPHR Exam Content Outline NOTE: The 2018 revisions to the SPHR exam content outline go into effect for all SPHR exams
More informationOUR PEOPLE, OUR STRENGTH
OUR PEOPLE, OUR STRENGTH 2015-2017 TABLE OF CONTENTS 1. 1. Employee messages... 2 i. Message from CAO ii. Message from Director, Human Resources 2. Executive summary... 3 3. About the Our People, Our Strength
More informationWhat Makes the Most Admired Companies Great: Reward Program Effectiveness. December 2008
What Makes the Most Admired Companies Great: Reward Program Effectiveness December 2008 Fortune survey of Most Admired Companies What is it? Study of corporate reputations Candidates: Fortune 1,000 and
More informationCOURSE CATALOG. vadoinc.net
COURSE CATALOG 2018 vadoinc.net Welcome Welcome to the Vado 2018 Course Catalog. Vado provides any organization or learner numerous opportunities to build the skills needed to lead and manage others, as
More informationTALENT ACQUISITION AND MANAGEMENT STRATEGIES for Hourly Workers
TALENT ACQUISITION AND MANAGEMENT STRATEGIES for Hourly Workers An icims Guide to Attracting and Retaining the Best Hourly Talent 2016 icims, Inc. All rights reserved. TABLE OF Contents 3-4 5 6-13 14-19
More information2013 Compensation Planning Webinar
2013 Compensation Planning Webinar Creating a Talent Management Advantage Through Compensation Prepared by Consulting Performance, Reward & Talent Today s Discussion Topics Context for 2014 Compensation
More informationCERTIFICATIONS IN HUMAN RESOURCES. SPHRi TM Senior Professional in Human Resources - International TM SPHRi. Exam Content Outline
CERTIFICATIONS IN HUMAN RESOURCES SPHRi TM Senior Professional in Human Resources - International TM 2018 SPHRi Exam Content Outline SPHRi Exam Content Outline At-a-Glance: SPHRi Exam Weighting by Functional
More informationTowards Inclusivity: A White Paper on Diversity Best Practices
Towards Inclusivity: A White Paper on Diversity Best Practices Authored by Global Corporate College Staff The notion of diversity and its importance has been a mainstay of talent management for the last
More informationLearning Objectives. After you have read this chapter, you should be able to:
ROBERT L. MATHIS JOHN H. JACKSON Chapter 3 Organization/Individual Relations and Retention Presented by: Prof. Dr. Deden Mulyana, SE.,M,Si. SECTION 1 Nature of Human Resource Management http://www.deden08m.wordpress.com
More informationOrganization/Individual Relations and Retention
ROBERT L. MATHIS JOHN H. JACKSON Chapter 3 Organization/Individual Relations and Retention Presented by: Prof. Dr. Deden Mulyana, SE.,M,Si. SECTION 1 Nature of Human Resource Management http://www.deden08m.com
More informationTechnology. Math. Technical Difficulties: Recruiting and Retaining STEM Workers. Technical Difficulties Recruiting and Retaining STEM Workers
Technical Difficulties Laurie Chua, SHRM-SCP, SPHR-CA April 9, 2015 STEM Workers Science Technology Engineering Math Engineers Technicians Surveyors Designers Software Developers Planners Technicians Actuaries
More informationOnboarding vs Orientation: Going beyond the Paperwork
Onboarding vs Orientation: Going beyond the Paperwork Table of Contents Introduction 3 Organizational Roadblocks 4 1. UTILIZE NEW HIRE PORTALS TO SPEED UP THE TIME TO PRODUCTIVITY 7 Centralize All Hiring
More informationfinancial incentives. piecework plans. perquisites. D) Taylor bonuses. E) group incentive plans.
MULTIPLE HOIE. hoose the one alternative that best completes the statement or answers the question. 1 Popularized by Frederick Taylor in the late 1800s, financial rewards paid to workers whose production
More informationHighways England People Strategy
Highways England People Strategy 1. Accountable Leadership 2. Capable Employees We require positive, proactive and engaging leadership to be demonstrated at all levels of the organisation, through all
More informationREPORT OF CONTINUING CHALLENGES & BEST PRACTICES
REPORT OF CONTINUING CHALLENGES & BEST PRACTICES 2015-2016 HR Skills Advisory Council Introduction Introduction... 2-3 FINDINGS Common Reasons for Rejecting Applicants... 4-5 Challenges Finding Qualified
More informationCareer opportunity: Executive Vice President and General Manager, Worldwide - Wolters Kluwer Finance, Risk and Regulatory Reporting (FRR) - London
Career opportunity: Executive Vice President and General Manager, Worldwide - Wolters Kluwer Finance, Risk and Regulatory Reporting (FRR) - London About Wolters Kluwer Financial Services Wolters Kluwer
More information8 06 Reward PTO Banks: research. A Global Survey from WorldatWork and Hay Group June 2009
8 06 Reward Paid Next Time Practices Off and PTO Banks: research A Global Survey from WorldatWork and Hay Group June 2009 Media Contact: Marcia Rhodes 14040 N. Northsight Blvd. Scottsdale, Arizona 85260-3601
More informationSHRM Research Overview: Talent Acquisition. SHRM Research Overview: Talent Acquisition
SHRM Research Overview: Talent Acquisition SHRM Research Overview: Talent Acquisition HR professionals are undoubtedly in the midst of a challenging period for talent acquisition. Job creation was strong
More informationHow to Increase Contact Center Agent Retention
How to Increase Contact Center Agent Retention A research paper by nguvu Gamification and Machine Learning for Contact Centers All Rights Reserved 2016 nguvu Inc. Contents Overview... 3 Contact Center
More informationThe 2007/08 Employee Satisfaction and Retention Survey Maura Pallera, Global Research Analyst,
i n s i g h t March 2008 The 2007/08 Employee Satisfaction and Retention Survey Maura Pallera, Global Research Analyst, mpallera@salary.com Bottom Line Subjects Employers understand reasons for employee
More informationABOUT TABLE OF CONTENTS DEMAND
DEMAND DEMAND ABOUT TABLE OF CONTENTS Kforce, one of the nation s largest professional staffing and solutions firms, polled over 1,600 companies of all sizes from a broad spectrum of industries. Leaders
More informationEmployee engagement. Chartered Institute of Internal Auditors
26 October 2017 Employee engagement Chartered Institute of Internal Auditors This is an introduction to some of the principles and ideas surrounding employee engagement to help you plan a review. What
More informationDr. Renu Sharma. Associate Professor, Department of Management, Institute of Innovation in Technology & Management New Delhi.
The Impact of various of on the Motivation level of employees A comparative study of selected Indian Public and Private sector Banks Dr. Renu Sharma Associate Professor, Department of Management, Institute
More informationA wage your (sales) people want to go for
A wage your (sales) people want to go for Basic principles & critical success factors on variable pay Wouter Beuckels Manager 3/06/2016 Introduction What is variable pay? Conditional and thus non-guaranteed
More informationMGM RESORTS INTERNATIONAL LEADERSHIP COMPETENCIES
MGM RESORTS INTERNATIONAL LEADERSHIP COMPETENCIES Mission, Vision, Core Values and People Philosophy Our Mission MGM Resorts International is the leader in entertainment and hospitality - a diverse collection
More informationThe Attraction, Retention and Advancement of Women Leaders:
The Attraction, Retention and Advancement of Women Leaders: STRATEGIES FOR ORGANIZATIONAL SUSTAINABILITY July 2013 ATTRACTION, RETENTION AND ADVANCEMENT OF WOMEN 01 AUTHOR: Mary L. Bennett, MLBennett Consulting
More informationBRINGING MORE HUMANITY TO RECOGNITION, PERFORMANCE, AND LIFE AT WORK
BRINGING MORE HUMANITY TO RECOGNITION, PERFORMANCE, AND LIFE AT WORK 2017 Survey Report EXECUTIVE SUMMARY Since Globoforce launched the WorkHuman movement, the concept of working human bringing more humanity
More informationJob Families and Market Analysis
Job Families and Market Analysis Dennis Larsen Executive Director Compensation Programs & Strategies University of California Human Resources December 7-8, 2011 Irvine, CA Setting the Stage Compensation
More informationYou Just Got Here! Leaving So Soon?
Leaving So Soon? You Just Got Here! Pamela Stroko, Vice President HCM Transformation and Thought Leadership, Oracle These are troubling times if you are looking for talent. As I talk with organizations,
More informationLINKING PAY TO PERFORMANCE IN THE PUBLIC SECTOR JANUARY 2013
LINKING PAY TO PERFORMANCE IN THE PUBLIC SECTOR JANUARY 2013 A compensation philosophy with pay for performance is one of the new mantras for good governance in for-profit entities: it can be tied to a
More informationAbout the presenter. Jay received an MBA from Darden at the University of Virginia, and is co-author of Play to Your Strengths, McGraw Hill.
About the presenter Jay Doherty is a leader in s Workforce Sciences Group. He has over twenty years of management consulting experience helping leading oil and gas companies in North America, Middle East,
More informationGlobal Talent Mobility: The 21 st Century Business Imperative
Global Talent Mobility: The 21 st Century Business Imperative Friday September 5 th, 2008 Session Objectives Global Talent Mobility: The 21 st Century Business Imperative > Understand the new demands and
More informationA SURVEY OF HR PROFESSIONALS FOR HR PROFESSIONALS
A SURVEY OF HR PROFESSIONALS FOR HR PROFESSIONALS Conducted by: Bruce L. Katcher, Ph.D. President Specializing in Employee Opinion and Customer Satisfaction Surveys Nine Blair Circle, Suite D Sharon, MA
More information2. A compensation system using market-based pay is most likely to be part of a(n) strategy.
Chapter 02 Strategy: The Totality of Decisions Multiple Choice Questions 1. A compensation system that focuses on competitor's labor costs is most closely associated with a(n) strategy. A. innovator B.
More informationTowers Watson s. Principles and Elements of Effective Executive Compensation Design. A Powerful Framework for Pay Decision Makers
Towers Watson s Principles and Elements of Effective Executive Compensation Design A Powerful Framework for Pay Decision Makers An Important New Resource for Executive Compensation Program Design With
More informationGender Pay Gap Report 2017
Gender Pay Gap Report 2017 Barclays commitment to building a diverse and inclusive culture It has been my experience, not just as a business leader but also in my life beyond work, that equality and diversity
More informationWorkforce Optimization
T-N-T Series 2017 Workforce Optimization The Holistic Application of Talent Development Multiple Forces At Work The Company Jobs Employees Customers Products HR, Training, & Development Principal #1 If
More informationHOW TO DRIVE EMPLOYEE ENGAGEMENT WITHOUT A BUDGET. Kevin Szelagowski, Area Executive Vice President Arthur J. Gallagher, Co.
HOW TO DRIVE EMPLOYEE ENGAGEMENT WITHOUT A BUDGET Kevin Szelagowski, Area Executive Vice President Arthur J. Gallagher, Co. AGENDA Introduction Employee Engagement & Communications Voluntary Benefits Next
More informationRecruitment and Retention Insights for the Hotel Industry
Hospitality Review Volume 9 Issue 1 Hospitality Review Volume 9/Issue 1 Article 5 1-1-1991 Recruitment and Retention Insights for the Hotel Industry Peter W. Williams Simon Fraser University, null@sfu.ca
More informationHigh-Impact. Performance Coaching. Reproduced with the permission of choice Magazine,
research: (1) coaching should be a day-to-day, not a once-a-year, activity (i.e., employees tend to accept suggestions for improved performance if they are given in less concentrated form vs. comprehensive
More informationAchieving Results Through Genuine Leadership
Achieving Results Through Genuine Leadership T R A I N I N G Facing tough issues and aggressive goals, top organizations win by preparing genuine leaders who live out the mission and values of the organization.
More informationBuilding Inclusive Workplaces: Accountability and Metrics Principles
Building Inclusive Workplaces: Accountability and Metrics Principles Accountability is a critical change mechanism A series of academic studies have found that accountability is a critical element necessary
More informationCOMPENSATION PLANNING CYCLE
5 STEPS FOR ENSURING A SUCCESSFUL COMPENSATION PLANNING CYCLE Introduction Compensation planning is one of the most important processes in any organization, but it can also be the most challenging. Each
More informationIdentifying and Developing High Potentials
Identifying and Developing High Potentials Prepared for New Jersey Hospital Association 2/12/2015 Human Resources Meeting The Leadership Development Group, Inc. Your Speakers Tracy Duberman, Ph.D., MPH,
More informationEmployee engagement is promoted by a myriad of
SHRM Foundation Executive Briefing Employee Engagement: Your Competitive Advantage Sponsored by Randstad Employee engagement is promoted by a myriad of consultants, books and articles, but does it really
More information2010 Study on the State of Performance Management. research. A report by WorldatWork and Sibson Consulting October 2010
2010 Study on the State of research A report by WorldatWork and Sibson Consulting October 2010 About WorldatWork The Total Rewards Association WorldatWork (www.worldatwork.org) is a not-for-profit organization
More informationLearning Center Key Message Guide. 3M Company
Learning Center Key Message Guide The purpose of this Guide is to enable Learning Center communicators to achieve their communication objectives by delivery of consistent messaging, linking to 3M and LC
More informationIs your organization s talent ready for the future? Succession planning for future success
Is your organization s talent ready for the future? Succession planning for future success Business Focus Customized leadership, team building and individual training/coaching Analysis and strategies for
More informationFederal Law Update. The New FLSA Overtime Exemption Rules. AIM HR Solutions. Presented by : Russ Sullivan. www. aim net. org
Federal Law Update The New FLSA Overtime Exemption Rules Presented by : Russ Sullivan AIM HR Solutions @AIMHRSolutions #AIMHR blog.aimnet.org www. aim net. org 617. 262. 1180 Session Overview Challenges
More informationA PATH TO TALENT SUSTAINABILITY Why Education Programs are the Key to Avoiding Skill Gaps
A PATH TO TALENT SUSTAINABILITY Why Education Programs are the Key to Avoiding Skill Gaps Not long ago, employers had the upper hand in the talent search. But times have changed. Today, retiring Boomers
More informationRESEARCH REPORT SHRM / GLOBOFORCE. Employee Recognition Survey FALL 2012 REPORT THE BUSINESS IMPACT OF EMPLOYEE RECOGNITION
SHRM / GLOBOFORCE Employee Recognition Survey FALL 2012 REPORT THE BUSINESS IMPACT OF EMPLOYEE RECOGNITION RESEARCH REPORT EXECUTIVE SUMMARY SHRM/Globoforce Fall 2012 Report // 2 Succession planning, employee
More informationBefore It s Too Late: The Stay Interview
Before It s Too Late: The Stay Interview Dick Finnegan Founder, Retention Institute SHRM February 11 th, 2010 Copyright Retention Institute 2010 All rights reserved 1 Dick Finnegan s Bio Recovering HR
More informationPublic Service Secretariat Business Plan
Public Service Secretariat 2008-11 Business Plan Message from the Minister The Public Service Secretariat is a Category 2 entity that provides leadership in the area of strategic human resource management.
More informationMANAGING GENERATIONAL DIFFERENCES
MANAGING GENERATIONAL DIFFERENCES TXPELRA Conference, February, 2015 4 TH DIMENSION LEADERSHIP The Context for Developing Leaders 1 Four Generations Together Traditionalists/Silent Generation/Matures (pre
More informationUNIVERSITY OF TEXAS AT AUSTIN EMPLOYEE ENGAGEMENT GUIDE
UNIVERSITY OF TEXAS AT AUSTIN EMPLOYEE ENGAGEMENT GUIDE WHAT IS THE SURVEY OF EMPLOYEE ENGAGEMENT? The Survey of Employee Engagement facilitated by the UT Austin Institute for Organizational Excellence,
More informationThe ROI of training: Strategies and evaluation methods
The ROI of training: Strategies and evaluation methods As global organizations seek to gain a competitive advantage through employee development, more pressure has been placed on HR and learning professionals
More informationFrequently Asked Questions (FAQs) from Managers: Compensation Plannning and Total Compensation Discussions
Part 1: Merit Increase Planning What is a Merit Increase & who is eligible to receive annual merit increases? All Salaried Exempt & Salaried Non-Exempt employees will have a performance review and will
More informationEngaging Your Entire Workforce. > 21st Century HCM Is for All Employees Hourly and Salaried Alike
Engaging Your Entire Workforce > 21st Century HCM Is for All Employees Hourly and Salaried Alike 2 Introduction Almost 60 percent of the U.S. workforce consists of hourly workers. 1 Yes, the hourly workforce
More informationHRM and Dairy. Research Questions. Purpose of the Study. Dependent Variable. Explanatory Variables
HRM and Dairy Managing for Commitment: How Human Resource Management Practices Affect Dairy Employee Attitudes Richard Stup, Ph.D. AgChoice Farm Credit Popular press is filled with articles, information,
More informationPORTLAND PUBLIC SCHOOLS HUMAN RESOURCE SERVICES AND DELIVERY
PORTLAND PUBLIC SCHOOLS HUMAN RESOURCE SERVICES AND DELIVERY January 2013 Overview Portland Public School District (the District or PPS) contracted with AKT to create a new vision and values for their
More informationHR Strategic Plan
UNIVERSITY OF CALIFORNIA Human Resources HR Strategic Plan 2015-2019 Vision Strategy The headline Something happens we have to fix External influence drives action Crisis management Timing: NOW Reaction
More informationENGAGE BY STAGE. Research Report. Understanding how career stage affects employee engagement
ENGAGE BY STAGE Research Report Understanding how career stage affects employee engagement BEYOND AGES: Engaging Employees at All Career Stages While companies tend to default to age as the driver in engaging
More informationCalculate What it Costs to Replace an Employee
These calculations will easily reach 150% of the employee s annual compensation figure. The cost will be significantly higher (200% to 250% of annual compensation) for managerial positions. Employees of
More informationCGMA Competency Framework
CGMA Competency Framework Leadership skills CGMA Competency Framework 1 Leadership skills : This requires a basic understanding of the business structures, operations and financial performance, and includes
More informationHuman Resource Professionals. Human Resource Professionals. Executive Summary Report Spring, A Survey of. for. Gatti & Associates.
A Survey of Human Resource Professionals for Human Resource Professionals Executive Summary Report Spring, 2006 Prepared by: DISCOVERY Surveys, INc. Bruce L. Katcher, Ph.D. Specializing in Employee Opinion
More informationConsulting Talent & Organization. Engagement 2.0. Focus on the Right People. Build the Excitement. Preserve the Passion.
Consulting Talent & Organization Engagement 2.0 Focus on the Right People. Build the Excitement. Preserve the Passion. Focus on the Right People. Build the Excitement. Preserve the Passion. As the economy
More informationAgenda. Enterprise Risk Management Defined. The Intersection of Enterprise-wide Risk Management (ERM) and Business Continuity Management (BCM)
The Intersection of Enterprise-wide Risk (ERM) and Business Continuity (BCM) Marc Dominus 2005 Protiviti Inc. EOE Agenda Terminology and Process Introductions ERM Process Overview BCM Process Overview
More informationDTR9274O1HJ/TGDTRm5Xgw33Z. Department Survey Sample Department
DTR9274O1HJ/TGDTRm5Xgw33Z Department Survey Sample Department Feedback Report 1/9/217 About This Survey Sample Department, 1/9/217 This multi-rater survey is designed to assist your department in assessing
More informationTaking a Global Stance on Employee Engagement Benchmarking against the World s Most Admired Companies
Taking a Global Stance on Employee Engagement Benchmarking against the World s Most Admired Companies A leading global provider of transport and logistics solutions Established in 1982 in Jordan and now
More informationD R. V I C K I A. B R O W N D O D C H I E F L E A R N I N G O F F I C E R C I V I L I A N W O R K F O R C E J U LY 2 016
D R. V I C K I A. B R O W N D O D C H I E F L E A R N I N G O F F I C E R C I V I L I A N W O R K F O R C E J U LY 2 016 PRESENTATION GOAL 1. Create awareness of what employee engagement is, how it is
More informationManager, Supervisor & CEMA Skill Set Model County of Santa Clara
Leads Innovation Leadership Styles Manages Change Models Integrity, Trust & Transparency Strategic Thinking and Planning Manager, Supervisor & CEMA Skill Set Model County of Santa Clara Conflict Management
More informationKey Employee Retention Plans for Construction Firms
Whitepaper Series Key Employee Retention Plans for Construction Firms Retaining Top Talent Remains a Challenge for Privately-Held Companies Marc A. Newman, CPA, CGMA Associate Managing Partner Phillip
More informationThe Enemy of Engagement
The Enemy of Engagement Put an end to workplace frustration and get the most from your employees October 2012 MARK ROYAL What does employee engagement mean to you? 2 How do you picture employee engagement?
More informationThe New Realities of Executive Compensation in the Banking Industry
The New Realities of Executive Compensation in the Banking Industry The Impact of Regulatory and Shareholder Influence 2013-2014 Independent Advice. Effective Solutions. About Meridian Meridian Compensation
More informationHow to Engage Employees. A Guide for Employees, Supervisors, Managers, & Executives
How to Engage Employees A Guide for Employees, Supervisors, Managers, & Executives 1 Introduction Employee Engagement is a good in and of itself. What is Employee Engagement? Employee engagement is the
More informationCERTIFICATIONS IN HUMAN RESOURCES. PHRi TM Professional in Human Resources - International TM PHRi. Exam Content Outline
CERTIFICATIONS IN HUMAN RESOURCES PHRi TM Professional in Human Resources - International TM 2018 PHRi Exam Content Outline PHRi Exam Content Outline At-a-Glance: PHRi Exam Weighting by Functional Area:
More informationI. Apprenticeship Basics What is Registered Apprenticeship? How is an apprenticeship different from other job training, education and
I. Apprenticeship Basics... 2 1. What is Registered Apprenticeship?... 2 2. How is an apprenticeship different from other job training, education and work-based training programs?... 2 3. Is an apprenticeship
More informationHuman Resource Management (HRM)
Human Resource Management (HRM) 1 Human Resource Management (HRM) Courses HRM 5051. Human Resources Management Strategies. 3 Credit Hours. The effective management of HR practices has an enormous effect
More informationStay Interviews: HR s Secret Weapon for Strengthening Employee Engagement and Retention Efforts
Stay Interviews: HR s Secret Weapon for Strengthening Employee Engagement and Retention Efforts Presented by: Erin Pappo Pamela Zlota Camden Consulting Group Thursday, September 15, 2016 1:30 p.m. to 3:00
More informationSEVEN FUNDAMENTAL STEPS. for building a great place to work
SEVEN FUNDAMENTAL STEPS for building a great place to work MEET LIMEADE MEET TINYpulse A corporate wellness technology company that drives real employee engagement. An employee engagement solution company
More informationTeam Toyota Competencies and Behaviors by Job Level
Team Toyota Competencies and Behaviors by Job Level The Team Toyota Competencies are rooted in the Toyota Way and enable our cultural priorities. The behaviors listed at each competency level provide insights
More informationNew workplace, New reward systems?
New workplace, New reward systems? The "workplace" has evolved dramatically in recent years. From the predictions of academics like Charles Handy more than twenty years ago to the reality of today, the
More informationH U M A N R E S O U R C E S M A N A G E R
DESCRIPTION OF WORK: H U M A N R E S O U R C E S M A N A G E R Employees in this banded class provide leadership and supervision to professional/technical staff in the delivery of a contemporary human
More informationUnleashing the Power of Women
Unleashing the Power of Women HOW TO LEVERAGE THEIR UNIQUE STRENGTHS Jack Zenger, CEO Zenger Folkman Urgent Need For Leadership 60% of companies facing leadership shortages that impede their performance
More informationSECTOR PARTNERSHIP SELF-ASSESSMENT: IMPLEMENTATION AND EXECUTION PHASE
SECTOR PARTNERSHIP SELF-ASSESSMENT: IMPLEMENTATION AND EXECUTION PHASE This self-assessment is designed for manufacturing sector partnerships, as well as manufacturers considering a sector partnership,
More informationEMPLOYEE RETENTION STRATEGIES IN THE BPO SECTOR- - A STUDY ON KENTECH SOLUTIONS
International Journal of Human Resource & Industrial Research (IJHRIR) ISSN: 2349 3593 (Online), ISSN: 2349 4816 (Print) Email: editor@arseam.com Instructions for authors and subscription information:
More informationCarole Rosenlund - Project Manager, ICH, Norway Brian Makungo - Training Manager, KGRTC, Zambia
Carole Rosenlund - Project Manager, ICH, Norway Brian Makungo - Training Manager, KGRTC, Zambia Talent Management within Utilities through workforce planning & critical skills development Talent Management
More informationBUSINESSES DRIVE PERFORMANCE UP WITH KORN FERRY
BUSINESSES DRIVE PERFORMANCE UP WITH KORN FERRY UP IT S WHERE EVERY BUSINESS WANTS TO GO. UP. It s the journey toward a stronger, more sophisticated workforce. It s where you ll develop your future leaders.
More information2017 Recruiter Sentiment Study
2017 Recruiter Sentiment Study with Insights from and Candidates Conducted by The Martec Group MRINetwork.com/Recruiter-Sentiment-Study CONTENTS SURVEY HIGHLIGHTS 3 JOB OPENINGS TODAY What is Causing Job
More informationANGLIAN WATER S GENDER PAY GAP REPORT
ANGLIAN WATER S GENDER PAY GAP REPORT This report sets out the gender pay gap at Anglian Water, the reasons for it and the steps we are taking to close it. What is the gender pay gap? This is the average
More informationStrategic Leadership Workshop
Strategic Leadership Workshop Topics of Discussion Aligning business strategy, culture and people strategy Management vs. leadership Topics of Discussion Strategic Leadership Pillars Truth or Limiting
More informationFuture-state HR Service Delivery Model Talent Position Descriptions
Future-state HR Service Delivery Model Talent Position Descriptions Note: Position descriptions are draft and not yet final. Position descriptions are subject to change. 1 P a g e Table of Contents Talent:
More informationUniversity Human Resources Performance Development Toolkit October 2016
University Human Resources Performance Development Toolkit October 2016 What is Performance Development? Performance development is the process of planning for, discussing and evaluating employee performance.
More informationQueen s Emerging Leaders Program 2017/2018
Queen s Emerging Leaders Program 2017/2018 Program Overview To provide new and future managers with practical tools, support and resources they need to perform their jobs effectively and confidently. The
More informationThe Coaching Clinic. Four Unique Reasons The Coaching Clinic Around The World: Licensing Program Is Preferred
The Coaching Clinic Four Unique Reasons The Coaching Clinic Around The World: Licensing Program Is Preferred 1. It really is performance-focused Gallup, the famed research company, performed some landmark
More informationCarole Rosenlund - Project Manager, ICH, Norway Brian Makungo - Training Manager, KGRTC, Zambia
Carole Rosenlund - Project Manager, ICH, Norway Brian Makungo - Training Manager, KGRTC, Zambia Talent Management within Utilities through workforce planning & critical skills development Talent Management
More informationBUILDING CREDIBILITY. For internal use only
BUILDING CREDIBILITY Overview Topic Overview Being a credible business partner is critical to our ability to lead and develop trusted relationships, as well as to influence and deliver results. A key element
More information